Pragati Insurance Limited has achieved a significant milestone in the financial sector by clinching first place in the Non-Life Insurance category at the prestigious IDRA Insurance Excellence Award 2025. This accolade, instituted by the Insurance Development and Regulatory Authority (IDRA), recognises the firm’s unwavering commitment to operational integrity and industry leadership.
A Benchmark for Excellence
The award follows a rigorous evaluation process conducted during the 192nd meeting of the IDRA Board. Pragati Insurance was selected for the top honour based on a comprehensive set of performance indicators that define the gold standard for the Bangladeshi insurance landscape. The selection committee highlighted the company’s exceptional performance in corporate governance, strict regulatory compliance, and robust financial stability.
Under the strategic stewardship of Chief Executive Officer Syed Sehab Ullah Al-Manjur, the firm has undergone a period of sustained qualitative growth. Mr Al-Manjur’s leadership has been instrumental in embedding a culture of risk management and transparency, ensuring that the company not only meets but often exceeds the stringent requirements set by the regulator.
Driving Innovation and Reliability
Pragati Insurance has carved out a niche for itself by revolutionising claim processing—a traditional pain point for the industry. By adopting a “customer-first” philosophy, the company has introduced innovative products tailored to modern market risks, thereby securing a dominant market share.
| Award Category | Recipient | Key Performance Drivers |
|---|---|---|
| Non-Life Insurance (1st Place) | Pragati Insurance Ltd | Governance, Compliance, Claim Efficiency |
| Regulatory Adherence | Pragati Insurance Ltd | 100% Alignment with IDRA Guidelines |
| Market Position | Pragati Insurance Ltd | Leader in Risk Management & Innovation |
The Grand Ceremony
The official presentation of the award is scheduled to take place today, 29 January 2026, during a gala ceremony at the Pan Pacific Sonargaon Hotel in Dhaka. Commencing at 5:30 PM, the event will host an assembly of the nation’s financial elite.
The Governor of Bangladesh Bank is expected to attend as the Chief Guest, alongside the Chairman of IDRA. Their presence underscores the importance of this award in fostering a more reliable and professional insurance culture in Bangladesh. For Pragati Insurance, this recognition serves as a testament to their vision of providing secure, transparent, and innovative insurance solutions to the public.
